Will Liz Truss resign today?

[sunnydaytoday0]

Or maybe Tuesday at the latest? Would she really want to face the absolute public humiliation of PMQs on Wednesday?

So basically he said we've given up all hope of winning the GE, and the middle classes can suck up the costs of all the chaos - now please, please please can markets forgive us.

In case anyone believes me? WTactualF?!

Read the thread. Even reading my post would be a good start. I never said there were policies. I'm replying to Labour supporters who said there were policies. There's a real problem here.

The energy companies will have to just control each homes / businesses units of energy that they can have . I said this to someone when smart meters became a thing to have installed or buy.
I can see it happening to be honest
Hard for hospitality and hairdressers and those who use loads of energy, but there is an agenda here to use less fuel and go over to other forms of power

Indeed. I don't understand what pleasure you get in wishing someone dead. She's a hopeless politician not a monster.

Trading competence for populism has finally done the tories in. Just a shame it took so long.

Another round of austerity was a virtual certainty once we borrowed billions to fund covid support like furlough and to pay for vaccination.

I'm not saying we shouldn't have done that, but I said then that we'd be back to Tory austerity once we were out of the other side.

They probably won't call it that this time though 🙄

I'm not sure thats necessarily as bad as it sounds.

First of all, the major beneficiaries were people who were the wealthiest and can afford not to reduce their useage - many of whom NEED to be reducing their useage due to energy security / global warming.

Second of all, the exact wording is the energy price guarantee will only remain universal. Key word. Universal. That means it could be means tested and still available to those on lower income.

Thirdly this needs a bit of context.
About 45mins before his statement this was tweeted:

Pound Sterling Live AT thepoundlive
Some really good news for Chancellor Hunt. Big fall in gas prices today. NatWest estimates that if the Dec '22 contract hits 300p/therm the Energy Price Guarantee becomes cost neutral. i.e. the new government's biggest spending outlay is shrinking rapidly $GBP
See graph

The gas price is currently at 403p.

Now we could see more spikes in price, however the markets seem to think there is going to be less issues with gas - indeed if demand is lower, that will keep prices lower - again it comes back to getting rich high energy users to reduce how much they consume.

So, whilst I think this announcement is extremely frightening, I also think its NOT as bad as it might sound and it is recognising that the wealthiest were benefiting most from the policy.

The people who are most vulnerable are middle earners with mortgages with high LTV.

However this response should also help to stop interest rates spiraling quite as much as the government don't have the financial black hole that the markets were terrified of.

A lot of it is arse about face and not without risk. But I think people need to stop, and work out what the knock on effects of this are and what it actually means.

He didn't mention the cut backs coming our way did he ?
Those will be buried I suppose

Oh no, not a party with wokeness! How will our economy cope? How will we feed our children? They might do virtue signalling as well, then all investment in the UK will collapse.
Or not.

One concern I do have is I don't know what the score is with energy price relief for businesses. Thats really important too.

I bet education and defence are targeted
Not sure about health , but that's already on its knees, unless they start sacking or making redundant a few of the managers!

Yep, that's us screwed.
DH and I are middle earners. Our mortgage fixed rate is up is May 2023, so this April announcement is hitting us right where it hurts, at the exact same time. (For those wondering why we haven't fixed already, because our exit fee with Santander is £11,600 - multiple mortgage advisors told us not to pay this a few months ago, but look into locking a deal in November, when we had 6 months left).

We are fortunate enough to be able to afford the increase in mortgage payments (looking at around a 6% interest rate) - we will struggle with that AND high energy costs. We both work full-time, and earn a fairly decent amount between the two of us (although not a massive amount).

We have also been TTC for over 2 years now - I'm 37 and struggling (also have multiple health issues) - maybe we should stop any plans to ever have a family bigger than the two of us, and our pets :(
(Yet my 17 year old niece has just announced her pregnancy - she does not work, and is going to stay at home with her parents, and plans to live on benefits. This is not a benefit-bashing thread, and my niece hasn't thought far ahead, beyond wanting a baby - I would not have her life for anything, as much as I love her. But it does feel like a kick in the teeth, when she hasn't thought beyond, 'I want a baby', and DH and I are looking at each other in panic, and thinking 'Can we afford a baby? Can I afford maternity leave?')

Yes. It was the wrong time for these kinds of policies. She could have gradually introduced the tax cuts in more stable times. But crashing in and going hell for leather when the country is disillusioned, tired after a pandemic, anxious and feeling the pinch was just so ill conceived.

We need a PM, and a party, that is in tune with the public mood. These Tory cabinet ministers haven't got a clue.

Education is also already on its knees :( @the80sweregreat

I'm actually not opposed to means-tested energy bill provisions...

... it just depends on the nature of the means-testing. Something tells me it'll be pretty stingy unless you're on the poverty line.

Election petition here in case anyone wants to sign or share - petition.parliament.uk/petitions/619781

More context:

Ed Conway AT EdConwaySky
BREAKING
I’m told UK regulators have identified one LDI fund at an asset manager which would face a series of “knockouts” & potential collapse if gilt yields had risen markedly this morning.
They believe the rest of the system is safe.
Important background to HMT statement today.

Single fund at asset manager faced 'knockouts' without fall in gilt yields.
Full story on the threats regulators have identified in the gilts market. Important part of the backstory about HMT bringing forward today’s announcement
news.sky.com/story/single-fund-at-asset-manager-faced-knockouts-without-fall-in-gilt-yields-12722817

Chancellor didn't have a choice. The markets were about to go pop if action hadn't been taken as one investment fund was about to go under (and likely to take others with it) and the government had to intervene to prevent that.

In other words, they couldn't make it to the end of the week never mind the any GE without a catastrophic economic disaster.

If I were Truss I'd want to resign befor Wenesday's PMQs. She'll have nothing to say.

Oh, I've no doubt that education is in its knees too! But cuts will come :(
They still have this black hole to fill and debts to pay back

She’s my MP and I’m wondering if she’ll resign from her seat here too. She has no local connections and she barely visits anyway, so I can’t see her showing her face here again, although many people here (not me) will continue to vote Conservative regardless.

The means testing will be tough ! To get an ever by grant next year will be rarer than hens teeth
Not many people will qualify, he said that only certain businesses will also receive any help too
It'll be hard :(

Yes because having a massive organisation like the NHS without management will really improve things.

The NHS spends less on management than similar sized businesses.

This link gives some stats www.kingsfund.org.uk/projects/health-and-social-care-bill/mythbusters/nhs-managers

Not to wish anyone dead at all but her decisions will cause people to really suffer.. inflation.... council tax rises... mortgage holders, people retiring shortly.. their savings ...public spending cuts...

Real world effects.

I ve no idea if people will die as result as what she/tory party has done but it wont be far short.

It was only an idea about the nhs managers !
If there are cut backs then everyone will be affected .
We've seen this before

So you’re saying labour have no policies? To be clear.